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Home My WebLink About0932 9. Arlditional Documents. A1 atl times this Mortgage is in eftect, upon Mortgagee's request, Morlgagor shall make, execute and deliver o~ cause to be made. executeci and delivered to Mortgagee and, where appropriate, shall cause to be recorded or (iled and therealter to be re-recorded or ret~led at such time and in such places as shall be deemed desirable by Mortgagee any and all such fu~ther mortgages, instruments of (urther assu~ance, certiticates and other documents as Mortgagee may consider necessary or desirable in order ;o eftectuate, complete, enlarga pe~tect, a to continue and preserve the ob~igalions ot Mortgagor under the Agreement and ihis Mortgage and all other instruments securing the A~reement, and the lien of this Mortgage as a(irst and pr~or tien upon all the Mortgaged Prope~ty. Upon any ta~lure by Mo~tgagor to do so. Mortgagee may make, execute, record, fite, re-record, or re(ile any and all such mortgages, instruments, certi(icates and documents tor and in the name ol Mortgagor. Mortgagor hereby irrevocabty appoints Mortgagee agent and attorney-in-lact of Mortgagor to do all things necessary to efiectuate or assur2 compliance wiih th+s paragraph. 10. Event of Default. Any one o1 the following shall constiiute an event oi default~ (a) Failure by Mortgagor to pay, as and when due a~y payable, any installments ot principal or interest due under the Agreeme~t, or any deposits tor taxes and assessments or insurance premiums due hereunder, or any oiher sums to fr,e paid by Mortgagor hereunder or under any other instrument securing the Agreement. (b) Faiture by Mortgagor to duly keep, pertorm and observe any other covenant, condition or agreement in the Agreement. this Mortgage, any other instrument securing the Agreement or arry other instrument collateral to the Agreement or executed in conrection with the sums secured hereby for a period of 10 days after Mortgagee gives written notice specifying the breach. (c) if either Mortgagor or arry guarantor or endorser oi the Agreement: (i) files a votuntary petition in bankruptcy, (ii) is adjudicated a bankrupt or insolvenl; or (i) files any petition or answ~er seeking or ac;quiescing in any reorganization, managem~nt. ` composition, readjustment, liquidation, dissolution or similar reliei for itself under any law relating to bankruptcy, insolvency or olher relie( for debtors, or (iv) seeks or consents to or acquiesces in the appointment oi any trustee, recei~~er, master or liquidator ai itseli or o1 all or any substantia! part d the Mortgaged Property or of any or all oi the rents, revenues, issues, earnings, protits or income thereof, or (v) makes any general assignment (or the benefit of creditors, or (vi) makes arry admission in writing of its inabitity to pay its debts generally as they be~.ome due; or (vii) a court ot competent jurisdiction enters an order, judgment or decree approving a petition iiled against Mortgagor or any g~arantor or endorser of the Ag~eement, seeking any reorganization, arrangement, composiiion, readjustment, liquidation, dissdution or s+milar reliet under ar+y prese~t or future tederat, state, ar ather statute, law or regulation relating to bankruptcy, insolvency or other relief (a debtors, which order, judgment or decree ~emains unvacated and unstayed (or an aggregate o( sixty (60) days whether or not consecutive (rom the date ot entry thereof: or (viii) any tn~stee, receiver or liquidator of Mortgagor of all or any substantial part of the Mortgaged Property or ot ary or all oi the rents, revenues, issues, earnings, pro(~ts or income thereof, is appointed without the prior written consent of Mortgagee, which appointment shal~ remain unvacated and unstayed (ar an aggregate d sixty (&0) days whether or not consecutive. (d) Any breach of any warranty or materiat untruth of any representat+on of Mortgagor contained in the Agreement, this Mortgage or any other instrumeni securing the Agreement. ~ (ej The occurrence of any default under the terms ol any mortgage or other security instrument which creates a lien or other security interest on or in the Mortg~ged Property. 11. Acceleration. II an eveni of delault shaA have occurred, Mo?igagee may declare the outstanding principat amount of the Agreement and the interes! accrued thereon, and all other sums secured hereby, to be due and payable immediately. Upon such declaration such principal and interest and other sums shall immediately be due and payable without demand or notice. ~ ' ~ ~ ~ ~ ~ ' . . . . 12. Rernedies after Default. Upon an event of detault, Mortgagee may proceed by suit or suits at law or in equity or by any other appropriate proceeding or remedy to: (a) enforce payment of the Agreement or the performance of any term hereof or any other righh (b) iorectose this Mortgage and to seli, as an entirety or in separate lots or parcels, the Mortgaged Property under the judgment or decree ot a court or courts oi comp~tent jurisdiction; (c) cdlect all rents, issues, proiits, revenuq, income and other benefiis trom the Mortgaged Property: (d) appoint a receiver to enter upon and take possession of the Mortgaged Property and to collect all rents, issues, profits, revenue, incame, and other benzfits thereof and apply the same as a court may direct and such receiver shalf have all rights and powers permitted under law; and (e) pursue any other remedy avaiiable to it including, but not limited to taking possession of the Mortgaged Property vrithout notice or hearing to Mortgagor. - Mortgagee shatl take action either by such proceedings or by the exercise of its paver wiih respec! to entry or taking possesion, ~ or both, as ?+Aortgagee may determine. , 13. No Waiver. No detay or omission ot Martgagse or of any holder oi ~he Agreement to exercise any right, pr~wer or ~ remedy accruing upon any event ol default shall exhaust or impair any such right, power or remedy or shall be construed ~ ~i to waive arry event ot detault or to constitute acquiesenc~ therein. ~ 14. Non-Excluslve Remedles. No right, power or remedy conierred upon or reserved to Mortgagee by the Agreement, th~s Mortgage or any other instrument securing the Agreement is exclusive of any other right, power or remedy, but e3ch and every such right, power and remedy shall be cumulative and concurrent and shall be in addit~on to any other right, power ( and remedy given hereunder or under the Agreement or arry other instrument securrng the Agreement, now or hereafter ex~st~ng , at taw, in equity or by statute. • ! 15. Successors and Assigns Bound. Whenever one o~ the parties hereto is named or referred to herein, the heirs, ~ successors and ~ssigns ot such party shall be included and all covenants and agreements contained in this Mortgage, by or on behatf of Me~gagor or Mortgagee, shall bind and inure b the benetits of their respective heirs. successors and assigns, whether or not g, expressPd. 16. Mtsc811aneous. In the event that any of the covenants. agreements, terrr~s or provisions contained in the Agreement, this Mortgage or arnf other instrument securing the Ag~eement shall be invalid, illegal or unenforceable in any respect, the validity of the remaining covenants, agreemenls, terms or provisions contained herein and in the Agreement and arry other instrument securing the Agreement shall be in no way affected, prejudiced or disturbed thereby. ' 17. Attomey's Fees. The term "attorney's fees" as used in this Mortgage includes any and aN lega! fees oi whatever nature inctuding, but not limited to, fees resuliing from any appeal of arry interlocutory order or final judgment or any other ~ appeAate proceeding arising out ot any litigation. ~ A!~ tve.v,us ~LOns a~e cbsde!e . 1t0721 Re+ ~itrf 86 {09l7) ~ ~ ~ooK574 ~A~E 933 ~i.~L . . . ~ _ ir___ w~ ~ _ _